In a notice on their website this morning, the company said that in accordance with Irish law it had to cease trading on the website, settle all open positions and cease all banking transactions immediately.

The company is based here but did most of its business in the US, where it was widely cited as an accurate predictor of the result of last year’s US presidential election.

However in December it had to stop taking money from US based clients, after it was sued by US regulators who accused the site of running an unregulated futures exchange.

The company was founded in 1999 by business man John Delaney, who died in 2011 while climbing Mount Everest. He was 42 when he died.